Technological advances, shifts in consumer tastes, and increased competition all of which reduce demand for a product are typical of which stage in the PLC ?

Related Mcqs:

1. The shrinking or distances due to technological advances such as computer and fax connections by telephone are one characteristic of what new challenge to marketing ?

   A. Rapid globalization
   B. The changing world economy
   C. The call for more socially responsible marketing
   D. The micro-chip revolution

2. A company is in the ________ stage of the new product development process when the company develops the product concept into a physical product in order to assure that the product idea can be turned into a workable product ?

   A. product development
   B. commercialization
   C. marketing strategy
   D. business analysis

3. Suppose a frost destroys much of the Florida orange crop. At the same time, suppose consumer tastes shift toward orange juice, What would we expect to happen to the equilibrium price and quantity in the market for orange juice ?

   A. price will decrease, quantity is ambiguous
   B. The impact on both price and quantity is ambiguous.
   C. Price will increase, quantity will increase
   D. price will increase, quantity will decrease
   E. price will increase, quantity is ambiguous.

4. Suppose consumer tastes shift toward the consumption of apples Which of the following statements is an accurate description of the impact of this event on the market for apples ?

   A. There is an increase in the quantity demanded of apples and in the supply for apples
   B. There is an increase in the demand and supply of apples.
   C. There is an increase in the demand for apples and a decrease in the supply of apples
   D. There is a decrease in the quantity demanded of apples and an increase in the supply for apples
   E. There is an increase in the demand for apples and an increase in the quantity supplied of apples.

5. Refer to Exhibit 4. Suppose that the consumer must choose between buying socks and belts Also suppose that the consumer’s income is €100 If the price of a belt is €10 and the price of a pair of socks is €5, the consumer will choose to buy the commodity bundle represented b point ?

   A. Z
   B. X
   C. Y
   D. the optimal point cannot be determined from this graph

6. If an increase in a consumer’s income causes the consumer to increase his quantity demand of a good, then the good is ?

   A. a complementary good
   B. an inferior good
   C. a normal good
   D. a substitute good

7. Less demand in the economy may increase unemployment; this may lead to less spending which may reduce demand further. This is called ?

   A. The upward accelerator
   B. The downward multiplier
   C. The upward PPF
   D. The downward mpc

8. What is called increased demand for a limited supply of goods and service result of which is increase in consumer prices ?

   A. Demand push
   B. Demand pulls
   C. Cost pull
   D. Demand supply

9. An increase in consumer income will increase demand for a _________ but decrease demand for a?

   A. substitute good, inferior good
   B. normal good inferior good
   C. inferior good normal good
   D. normal good, complementary good

10. When an increase in government purchases raises incomes shifts money demand to the right raises the interest rate, and lowers investment we have seen a demonstration of ?

    A. supply-side economics
    B. None of these answers
    C. The crowding-out effect
    D. The multiplier effects